Shopify price target raised to $55 from $50 at Deutsche Bank

Deutsche Bank analyst Bhavin Shah raised the firm’s price target on Shopify to $55 from $50 and keeps a Buy rating on the shares. While Shopify reported strong Q4 results with better than expected GMV, forward commentary on Q1 was disappointing across the board with both revenue and expenses suggesting margin estimates need to revise downward, the analyst tells investors in a research note.